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St Louis Real Estate Search

Current Housing Market Bust Worse Than Depression? I Don’t Think So..

The headline today on a CNBC article was “US Housing Crisis is Now Worse than Great Depression” and there are many similar articles in other publications as well…in fact, if you Google “Housing Crisis Worse Than Great Depression” there are over 100 exact matches just in the past month. The writer’s all seem to be […]

International survey shows 62 percent of Americans think now is a good time to buy a home; highest in survey

The results of a survey conducted in eight countries for Genworth Financial was released today and contains some interesting findings. The survey was conducted on existing home-owners as well as people that said they were potential first-time home-buyers in eight countries; U.S., U.K., Ireland, Italy, Australia, Mexico, Canada and India.

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New home sales and prices increase in April; still down over 23 percent from a year ago

Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for April 2011 showing an increase of 7.3 percent from the month before, and a decrease of 23.1 percent from a year ago.

The seasonally-adjusted new home sales rate for April was 323,000 homes. The supply of […]

St. Louis County Assessor offers tax relief to tornado victims

Within days of former State Representative Jake Zimmerman stepping into his new role as the first elected Assessor for St. Louis County, he has jumped into action. In an effort to reach out and provide help to property owners whose property was affected by last weeks devastating tornado, Zimmerman plans to use authority given to […]

New home sales and prices increase in March

Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for March 2011 showing an increase of 11.1 percent from the month before, and a decrease of 21.9 percent from a year ago.

The seasonally-adjusted new home sales rate for March was 300,000 homes. The supply of […]

St. Louis Home Prices Decreased In February; Non-Distressed Sale Prices Stabilizing

According to a report released this morning by CoreLogic, St. Louis home prices (including distressed sales) declined by 8.29 percent in February 2011 from the year before. The prior month showed home prices had declined 7.24 percent from the year before, so the bad news is this shows home prices are continuing to trend downward. […]

St. Louis Market at a Glance; The economy, people, real estate

HUD publishes “Market at a Glance” reports which give a great overview of the economic conditions, population information as well as real estate and housing information for a given area. I have generated the most recent report for the St. Louis metro area showing St. Louis area market conditions on dynamic charts.

Highlights:

St. Louis […]

St. Louis County Assessor Shows Property Values Dropped 5.26 Percent in past two years

The St. Louis County Assessor today released the preliminary real property values as a result of this being a reassessment year. Pursuant to state law, the assessor is to look at what the fair market value of real property was on January 1, 2011 and then use this as the value for property tax purposes […]

Survey shows Americans gaining confidence in stability of home prices

The Fannie Mae Fourth Quarter National Housing Survey polled homeowners and renters alike to assess their confidence in homeownership as an investment as well as their views on housing finance and the overall economy. The survey revealed that Americans are more confident about the stability of home prices than they were at the beginning of […]

2010 Census data disappointing for St. Louis; what is effect on the St. Louis Real Estate market?

It’s hard to miss the fact that the US Census Bureau just released some of the results of the 2010 census for our area.  It’s been all over the media about St. Charles County’s population surpassing the City of St. Louis and moving it into the spot of the third largest county in the State.

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First-Time home buyers prefer ‘move-in-ready’ home

According to a survey from Coldwell Banker Real Estate, 87 percent of first-time home buyers want to buy a “move-in-ready” home. First-time buyers have indicated they want to buy a home that is affordable, but they are not looking for the “fixer-uppers” as much as past buyers may have been.

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New home sales close out 2010 on the rise; predicting increased sales in 2011

Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for December 2010 showing an increase of 17.5 percent from the month before, but a decrease of 7.6 percent from a year ago.

The seasonally-adjusted new home sales rate for December was 329,000 homes, a 17.5 percent […]

Foreclosures on the rise in December; Mortgage delinquences decline though

A “first-look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, is somewhat encouraging as it shows the U.S. mortgage delinquency rate (not including foreclosures) for December was 8.83 percent which is a decrease of 2.1 percent from November’s rate of 9.02 percent.

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Tips to Avoid Appraisal Problems

You finally reach a deal with a buyer to sell your house, or strike a deal with the seller of your dream home, only to see the deal fall apart later when the house doesn’t appraise for the price that has been agreed upon…what are you to do? This is a plight that has become […]

Where is the real estate market headed in 2011?

The real estate market has not been very nice to us over the past 3 years or so and we are all anxious to see the light at the end of the tunnel. With that in mind, and 2011 in front of us, where is the real estate market headed in 2011? Before I take […]

Has The Rate of Home Ownership Dropped to an All-Time Low?

As 2010 quickly comes to an end I sat here early this morning pondering the real estate market and reading reports on the housing industry. One thing that caught my attention was an article titled “The Mortgage Interest Deduction and Negative Equity” by Ted Gayer, the co-director of economic studies at the Brookings Institute (and […]

Existing home sales increase in November; Down almost 28 percent from a year ago

Today’s existing home sales report from theNational Association of REALTORS(R) shows existing home sales in November were at at a seasonally adjusted-annual rate of 4.68 million units which is an increase of 5.6 percent from October and is a decline of 27.9 percent from a year ago.

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Study shows immigrants could be key to future housing market

Great Desire to Own a Home by Growing Ethnic and Immigrant Populations Could Drive Future of the Housing Market

Fannie Mae just released a report which included a study on “Renting and Owning Behaviors by Race, Ethnicity, and Immigration Status and Economics of Owning and Renting Through the Cycle and Across Geographies” in which was […]

2011 Real Estate Market Expected to Show Some Improvement

Ah, it is so much fun to be able to write something positive about the real estate market!

According to an economic outlook report just issued by Fannie Mae, our country’s economy should “kick into higher gear” by the second quarter of 2011. This positive outlook is the result of improvements in consumer spending, consumer […]

Foreclosures on the rise in November however mortgage delinquences decline

A “first-look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, is somewhat encouraging as it shows the U.S. mortgage delinquency rate (not including foreclosures) for October was 9.02 percent which is a decrease of almost 3 percent from October’s rate of 9.29 percent. […]

Cash-In Refis; St. Louis Mortgage Rate Update

CASH-IN REFIS…

Over the past years, many of Americans pulled money out their homes through “cash-out” refis. Today, many of my clients are bringing cash into their refinance transactions. Money is flowing in the opposite direction.

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Survey Results are in – Sixty One percent think a home is a good investment

For those that frequent this site you have probably noticed (and perhaps even participated in) an informal survey we were running on the site. For about the past four months we have asked the question: “Is a home a good long-term investment?” and the results are in:

61 percent of the respondents said Yes 39 […]

October New Home Construction: Permits Up, Starts Down

The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for October 2010 showing a slight increase in single-family home building permits and a small decrease in new home starts compared to the month before.

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Initial report shows mortgage delinquencies leveled off in October; foreclosure inventory increased

A “first-look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, is somewhat encouraging as it shows the U.S. mortgage delinquency rate (not including foreclosures) for October was 9.29 percent and, while that is a terribly high rate, it is just barely higher than […]

Fed Reserve expects over 4 million new foreclosures in the next two years

Speaking at the National Consumer Law Center’s Consumer Rights Litigation Conference in Boston, Federal Reserve Governor Sarah Bloom Raskin delivered some sobering news about the Fed Reserve’s expectations for the housing market.

Raskin discussed how foreclosures on residential properties soared from about one million in 2006, the “peak of the boom”, to 2.8 million […]

New Incentives for Buyers of Fannie Mae Foreclosures; Over 700 Homes Available in St. Louis

Dennis Norman

Fannie Mae is offering 3.5 percent in closing cost assistance and a $1,500 bonus to buyers’ real estate agent or broker for people purchasing a Fannie Mae-owned HomePath® property.

Fannie Mae is trying to entice buyers to buy one of their

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